Search found 3095 matches

by kaneohe
Mon Aug 31, 2015 8:49 pm
Forum: Investing - Help with Personal Investments
Topic: Friend's proposed RMD strategy--A little different
Replies: 55
Views: 4240

Re: Friend's proposed RMD strategy--A little different

surprised there were only 2 copies.......deleted 1.
by kaneohe
Mon Aug 31, 2015 8:48 pm
Forum: Investing - Help with Personal Investments
Topic: Friend's proposed RMD strategy--A little different
Replies: 55
Views: 4240

Re: Friend's proposed RMD strategy--A little different

A slightly different version of a previous post.....a small change in the assumptions makes a big difference in this admittedly extreme example: Assume TIRA worth 100. Market goes down by factor of 25 and then up by factor of 25 and then doubles. Assume RMD is 4. 1) RMD of 4 taken when TIRA value is...
by kaneohe
Sun Aug 30, 2015 1:32 am
Forum: Investing - Help with Personal Investments
Topic: Friend's proposed RMD strategy--A little different
Replies: 55
Views: 4240

Re: Friend's proposed RMD strategy--A little different

More tax, less after-tax to spend. I think you got my point now. .....but only after going through the entire analysis. Perhaps the result was obvious to you but it wasn't to me....' it could be that one method paid more taxes but because the growth was more, it ended up with more also. Ex: compare...
by kaneohe
Sat Aug 29, 2015 11:11 pm
Forum: Investing - Help with Personal Investments
Topic: Friend's proposed RMD strategy--A little different
Replies: 55
Views: 4240

Re: Friend's proposed RMD strategy--A little different

........................................ I was going to come up with an example but the link posted by jane1 has this: Say, for example, a 75-year-old in the 30% tax bracket takes an in-kind RMD of a stock position worth $50,000 at the time of the distribution. He'd owe $15,000 in taxes on the dist...
by kaneohe
Sat Aug 29, 2015 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: Protecting Your Portfolio From Hackers
Replies: 7
Views: 849

Re: Protecting Your Portfolio From Hackers

You might consider reducing the amount of margin in your account. That way if your account is hacked the amount of cash that can be extracted is limited to a smaller amount.
by kaneohe
Sat Aug 29, 2015 3:26 pm
Forum: Investing - Help with Personal Investments
Topic: Friend's proposed RMD strategy--A little different
Replies: 55
Views: 4240

Re: Friend's proposed RMD strategy--A little different

Friend's RMD is more than he can spend, so he reasoned that he would take RMD when the market dropped so he could take more shares, thus reducing next RMD. Comments? The math on this escapes me at the moment. The RMD amount is based on a certain percentage of the prior years balance at the end of D...
by kaneohe
Sat Aug 29, 2015 3:22 pm
Forum: Investing - Help with Personal Investments
Topic: Friend's proposed RMD strategy--A little different
Replies: 55
Views: 4240

Re: Friend's proposed RMD strategy--A little different

An interesting extreme example is what happens if the market drops so dramatically to the RMD value (e.g. goes down by 96%). In this case, you can remove everything from the TIRA. Then assume a miraculous recovery to its initial value and compare to the TIRA where RMD was removed before the market ...
by kaneohe
Sat Aug 29, 2015 3:00 pm
Forum: Investing - Help with Personal Investments
Topic: Friend's proposed RMD strategy--A little different
Replies: 55
Views: 4240

Re: Friend's proposed RMD strategy--A little different

Suppose you start w/ TIRA of 100K. RMD is 4K. Market goes down by factor of 25 and then recovers and then doubles. Assume 25% bracket. A) Take RMD when TIRA is 100K before market tanks. Now you have 96 in TIRA and 4K in taxable. Pay 1K (25%) in est. taxes and have 3K in taxable. Market drops and the...
by kaneohe
Sat Aug 29, 2015 1:56 pm
Forum: Investing - Help with Personal Investments
Topic: Friend's proposed RMD strategy--A little different
Replies: 55
Views: 4240

Re: Friend's proposed RMD strategy--A little different

An interesting extreme example is what happens if the market drops so dramatically to the RMD value (e.g. goes down by 96%). In this case, you can remove everything from the TIRA. Then assume a miraculous recovery to its initial value and compare to the TIRA where RMD was removed before the market ...
by kaneohe
Sat Aug 29, 2015 12:39 pm
Forum: Investing - Help with Personal Investments
Topic: Friend's proposed RMD strategy--A little different
Replies: 55
Views: 4240

Re: Friend's proposed RMD strategy--A little different

It is not intuitively obvious to me which is better. The proposed method focuses on one aspect.....the fact that RMDs will be smaller in the future and that taxes will be less. You also have to look at the other aspect.......the growth and.how much you will end up with at the end after taxes and als...
by kaneohe
Fri Aug 28, 2015 10:07 am
Forum: Investing - Help with Personal Investments
Topic: 529 Plan tax question
Replies: 8
Views: 351

Re: 529 Plan tax question

States only give tax deductions on 529 contributions if you make them to the states own 529. Usually there is some limit to how much you can deduct per year. Some states give no deduction at all..... like California. http://www.pa529.com/ .....and some allow you a tax deduction regardless of which ...
by kaneohe
Wed Aug 26, 2015 10:48 am
Forum: Personal Consumer Issues
Topic: Floss aversion
Replies: 44
Views: 5090

Re: Floss aversion

Get one of the Reach flossing things that looks kind of like a toothbrush. This post is worthy enough to quote in its entirety. Do this. I think the brand was bought out and renamed though. yes as (Johnson & Johnson) Listerine https://jet.com/product/b662a70932674dbf81ad35334ab16132?jcmp=pla:gg...
by kaneohe
Mon Aug 24, 2015 1:24 am
Forum: Personal Finance (Not Investing)
Topic: QCD and RMD question
Replies: 21
Views: 1490

Re: QCD and RMD question

Alan,thanks for the clarification.
by kaneohe
Sun Aug 23, 2015 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: QCD and RMD question
Replies: 21
Views: 1490

Re: QCD and RMD question

.......................................... The only way in which you could get badly burned by doing the premature QCD/RMD prior to passage would be if Congress passed the QCD but did not make it retroactive to 1/1 as they have always done. That would result in not being able to use the QCD to cove...
by kaneohe
Sun Aug 23, 2015 5:27 pm
Forum: Investing - Help with Personal Investments
Topic: Is it possible to hold cash in Roth IRA?
Replies: 12
Views: 820

Re: Is it possible to hold cash in Roth IRA?

As others have said, you can put it in the money market. Vanguard unfortunately applies a 3000 minimum even to the money market. Funny, I often have less then $3000 in Prime Money Market and haven't received any warning from Vanguard. Perhaps I opened it with more. I think the minimum is for openin...
by kaneohe
Wed Aug 19, 2015 8:34 pm
Forum: Investing - Help with Personal Investments
Topic: RMD Beneficiary payout question
Replies: 20
Views: 1339

Re: RMD Beneficiary payout question

Here's a similar question that Alan answered previously [url]http://fairmark.com/forum/read.php?2,69433[/url "You can combine your inherited IRA accounts, but should only do so if the RMD divisor is the same AND they were inherited from the same decedent. RMD aggregation and combining inherited...
by kaneohe
Tue Aug 18, 2015 12:49 pm
Forum: Investing - Help with Personal Investments
Topic: RMD Beneficiary payout question
Replies: 20
Views: 1339

Re: RMD Beneficiary payout question

The RMD for a particular yr is based on the value of the IRA(s) as of yr end the previous yr so it is defined precisely. If you are crystal-balling what will happen in the future then some guess as to the return will be needed but it is only for guess-timating purposes.
by kaneohe
Tue Aug 11, 2015 1:05 pm
Forum: Investing - Theory, News & General
Topic: Interesting Argument in Favor of Roth
Replies: 53
Views: 6479

Re: Interesting Argument in Favor of Roth

The hard part is knowing how much to convert each year - conversions have to be done before the end of the calendar year, while you may not know your exact income until sometime between the start of the next year and tax day. You can always recharacterize any excess as long as it is time before the...
by kaneohe
Mon Aug 10, 2015 7:32 pm
Forum: Investing - Theory, News & General
Topic: Interesting Argument in Favor of Roth
Replies: 53
Views: 6479

Re: Interesting Argument in Favor of Roth

Usually folks think about the marginal tax bracket when they are considering changes.........at t least the marginal tax bracket that pertains to the change they are considering.
by kaneohe
Mon Aug 10, 2015 6:36 pm
Forum: Investing - Theory, News & General
Topic: Interesting Argument in Favor of Roth
Replies: 53
Views: 6479

Re: Interesting Argument in Favor of Roth

I don't know about KT's 15 yr example but if you substitute "eventually" for that time , perhaps this example can provide some insight. I) Start w/ 3K TIRA and 1K taxable side fund. 33% bracket A) Don't convert so have 3K TIRA and 1K side fund. Assume funds double to 6K TIRA and 2K - side ...
by kaneohe
Sun Aug 09, 2015 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Part B Supplement - Down to Few Options
Replies: 30
Views: 2049

Re: Medicare Part B Supplement - Down to Few Options

Fat-Tailed Contagion wrote:After the analysis, I like the Part F High Deductible (United American) because it offers savings if you do not need the services in a year, and if you do the Plan F kicks in and covers everything.

It seems like a "win-win".

What am I missing ?


maybe the high deductible (>2K)??
by kaneohe
Sun Aug 09, 2015 4:46 pm
Forum: Investing - Help with Personal Investments
Topic: Roth Conversion Penalty Question
Replies: 5
Views: 373

Re: Roth Conversion Penalty Question

I think the poster realized that so the suggestion was just to do a small conversion to minimize the higher taxes just to start the clock running.You might want to investigate minimum account opening requirements. You probably could afford 28% of $10 tho it would bother you in principle :happy
by kaneohe
Sun Aug 09, 2015 3:02 pm
Forum: Investing - Help with Personal Investments
Topic: Roth Conversion Penalty Question
Replies: 5
Views: 373

Re: Roth Conversion Penalty Question

see this wonderful table by kawill from the fairmark.com site: When you pass 59.5, the 5 yr conversion clock requirement changes to a 5 yr old Roth IRA (oldest Roth) but even that clock no longer pertains to conversions.........only the earnings whose withdrawal will be governed by that 2nd clock......
by kaneohe
Sun Aug 09, 2015 1:39 pm
Forum: Investing - Help with Personal Investments
Topic: Reporting Cost Basis Question
Replies: 7
Views: 717

Re: Reporting Cost Basis Question

I am going to be selling an old fund from the 1980s worth about $140k. The fund company lists my cost basis as only about $20k because it is calculated starting 2011. I ordered the transcripts and ran the info through a cost basis calculator and found (with the reinvested dividends over the years) ...
by kaneohe
Sun Aug 09, 2015 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Part B Supplement - Down to Few Options
Replies: 30
Views: 2049

Re: Medicare Part B Supplement - Down to Few Options

FTC........I like your upside/downside format. One question........your comment about being able to switch between all/any AARP/UHC plans with just a phone call goes against my "common wisdom" that you perhaps can go downward but not upward to more comprehensive plans. Who told you that an...
by kaneohe
Sun Aug 09, 2015 2:36 am
Forum: Investing - Help with Personal Investments
Topic: Reporting Cost Basis Question
Replies: 7
Views: 717

Re: Reporting Cost Basis Question

I would guess your company would report like this: http://www.usfunds.com/investing-with-us/faqs/cost-basis-faqs/what-are-covered-and-non-covered-shares/ If so, IRS would get basis info only on your covered shares and no basis info on the noncovered shares so there should not be a problem. You might...
by kaneohe
Sat Aug 08, 2015 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Paying Quarterly Self Employment
Replies: 13
Views: 952

Re: Paying Quarterly Self Employment

So I pay quarterly taxes and handle the investments at years end? I really need to sit down with someone but I just figured I would get a little info on here. So Lost. My disconnect in understanding is that I use quickbooks and I track all my expenses and miles traveled. But there is no option to i...
by kaneohe
Sat Aug 08, 2015 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Paying Quarterly Self Employment
Replies: 13
Views: 952

Re: Paying Quarterly Self Employment

So I pay quarterly taxes and handle the investments at years end? I really need to sit down with someone but I just figured I would get a little info on here. So Lost. My disconnect in understanding is that I use quickbooks and I track all my expenses and miles traveled. But there is no option to i...
by kaneohe
Fri Aug 07, 2015 8:00 pm
Forum: Investing - Help with Personal Investments
Topic: Current CD rates and online banking
Replies: 54
Views: 5979

Re: Current CD rates and online banking

google is your friend https://www.google.com/?gws_rd=ssl#q=highest+cd+rates Not all the sites will always be up-to-date but you should get close if you visit a few of them. You may want to pay attention to early withdrawal penalties as well as the yields. Synchrony Bank has 6 mo EWP but you may want...
by kaneohe
Fri Aug 07, 2015 1:03 pm
Forum: Investing - Help with Personal Investments
Topic: Clarification regarding taxes
Replies: 4
Views: 305

Re: Clarification regarding taxes

The general rule of thumb is to invest in Roth if you think withdrawal tax bracket is higher than now and Traditional if you think it will be lower. You can do some simple-minded math to see if it is reasonable Ex: Earn 10K. 25% bracket now; 15% later 1A) In 25% bracket, have net 7.5K after taxes. P...
by kaneohe
Fri Aug 07, 2015 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: What kind of receipts should be saved for HSA account?
Replies: 20
Views: 1230

Re: What kind of receipts should be saved for HSA account?

How about this simple example: you started your HSA in 2015. You take out xxx$ for the drugs. You show your 2015 EOBs that show no reimbursements for drugs. You show your 2015 tax return that shows no medical deduction. You show your 2015 receipts for the drugs....haven't you shown you didn't get r...
by kaneohe
Fri Aug 07, 2015 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: What kind of receipts should be saved for HSA account?
Replies: 20
Views: 1230

Re: What kind of receipts should be saved for HSA account?

I used to save up receipts but a couple years ago flushed them all through my HSA and reimbursed. I reimburse them annually now. It gets the clock started on audit and it avoids a big mess years from now when I am either incapable of doing all the admin work or if I'm dead and my spouse is cursing ...
by kaneohe
Fri Aug 07, 2015 10:10 am
Forum: Personal Finance (Not Investing)
Topic: What kind of receipts should be saved for HSA account?
Replies: 20
Views: 1230

Re: What kind of receipts should be saved for HSA account?

You need to show not only that it is a legitimate medical-related expense but also that it was not reimbursed by your insurance company or used for a medical deduction. That means keeping copies of your insurance statements (typically the EOB) and also copies of your income tax returns (and backup ...
by kaneohe
Fri Aug 07, 2015 8:48 am
Forum: Investing - Help with Personal Investments
Topic: GE Capital Bank
Replies: 18
Views: 1873

Re: GE Capital Bank

Just use Synchrony. They do a good job. It was easy to set up, transfer funds, and they answer my questions promptly. Good luck. just for balance (Synchrony)...........I would have said the same thing a month ago..............then came notice of a CD maturing in a month and being reinvested in same...
by kaneohe
Thu Aug 06, 2015 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: What kind of receipts should be saved for HSA account?
Replies: 20
Views: 1230

Re: What kind of receipts should be saved for HSA account?

You need to show not only that it is a legitimate medical-related expense but also that it was not reimbursed by your insurance company or used for a medical deduction. That means keeping copies of your insurance statements (typically the EOB) and also copies of your income tax returns (and backup d...
by kaneohe
Tue Aug 04, 2015 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Strange results using Taxcaster: AMT and other taxes
Replies: 1
Views: 191

Re: Strange results using Taxcaster: AMT and other taxes

you might try comparing with the hr block calculaor: http://www.hrblock.com/get-answers/tax-calculators.html#/en/te/aboutYou

Also you might try Taxcaster again later.........sometimes (on rare occasions) I've found it (or me?) acting stupid but a later try was ok.
by kaneohe
Tue Aug 04, 2015 11:06 am
Forum: Investing - Help with Personal Investments
Topic: Keeping your investments with one broker
Replies: 5
Views: 579

Re: Keeping your investments with one broker

Hmmm. Pardon my mathematical ignorance, but if you split your portfolio between multiple brokerage accounts, won't this have a negative impact on compounding? (To explain where I'm coming from, I am not American and I don't live in the US. I have only one account, which is entirely tax free due to ...
by kaneohe
Mon Aug 03, 2015 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Supplemental Insurance
Replies: 14
Views: 1075

Re: Medicare Supplemental Insurance

Here's a site I discovered after I had already signed up for Supplemental coverage. In my case, their information confirmed that I had made the best choice for me by choosing a "Plan G" over "Plan F". But when I review my coverage next time, I'm going straight to them to handle ...
by kaneohe
Mon Aug 03, 2015 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Keeping track of health expenses and reimbursements
Replies: 13
Views: 751

Re: Keeping track of health expenses and reimbursements

The take-home message is this. If you continue to get billed, make sure you don't just ignore it. A call to the billing department should take care of it, but if for some reason the bill becomes overdue even for erroneous reasons, you could be really inconvenienced later. Sometimes you get a "...
by kaneohe
Mon Aug 03, 2015 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Keeping track of health expenses and reimbursements
Replies: 13
Views: 751

Re: Keeping track of health expenses and reimbursements

What kind of Medgipap policy is involved? If Plan F or similar (but not F-hi deductible), it is possible that you may not have to do the spreadsheet. I also used to do that with similar format to other posters, which is basically what Medicare and the Medigap policy provide. After a few yrs of that ...
by kaneohe
Mon Aug 03, 2015 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Medicare Supplemental Insurance
Replies: 14
Views: 1075

Re: Medicare Supplemental Insurance

FTC.....sorry, no, I'm on the other side of the country........and I should give proper credit to drawpoker who taught me how to fish. I gave you the fish but a general rule seems to be to google your state insurance agency/dept. and then search that site for medicare supplement rates In my state , ...
by kaneohe
Mon Aug 03, 2015 8:02 am
Forum: Personal Consumer Issues
Topic: Aloha Mind math for 5 year old
Replies: 8
Views: 1031

Re: Aloha Mind math for 5 year old

Had never heard the name but was vaguely familiar w/ the concept. Check for a local groupon just in case: http://www.irs.gov/pub/irs-pdf/f2210.pdf Also Yelp has some reviews tho the numbers are small enough to make you question authenticity http://www.yelp.com/biz/aloha-mind-math-new-york
by kaneohe
Sun Aug 02, 2015 3:53 pm
Forum: Investing - Help with Personal Investments
Topic: Safe Harbor / Q3 Estimated Payment
Replies: 7
Views: 582

Re: Safe Harbor / Q3 Estimated Payment

I grabbed Line 63 from last year (2014) and it does match the $28189 I reported above. I'll make sure that my quarterly is for at least the 31,000 above which should put me in the clear. Appreciate the help! Please note that IRS expects to see the estimated tax if using the100% (or 110%) 2014 safe ...
by kaneohe
Sun Aug 02, 2015 2:56 pm
Forum: Investing - Help with Personal Investments
Topic: Safe Harbor / Q3 Estimated Payment
Replies: 7
Views: 582

Re: Safe Harbor / Q3 Estimated Payment

from the instruction for the 1040ES.....p.5 http://www.irs.gov/pub/irs-pdf/f1040es.pdf Figuring your 2014 tax. Use the following instructions to figure your 2014 tax. 1. Form 1040—The tax shown on your 2014 Form 1040 is the amount on line 63 reduced by: a. Unreported social security and Medicare tax...
by kaneohe
Sun Aug 02, 2015 2:25 pm
Forum: Personal Consumer Issues
Topic: Inside Passage Cruise
Replies: 14
Views: 1260

Re: Inside Passage Cruise

Wouldn't hurt to have the knit cap and gloves since they don't take much space but my guess is that they are overkill (unless very cold-blooded). Hopefully your shoes are resistant to rain .....otherwise consider "Juneau Sneakers" .....see Xtra Tufs here http://www.traveljuneau.com/cms/d/l...
by kaneohe
Sun Aug 02, 2015 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: My HH Bonds are nearing final maturity date. What happens then?
Replies: 18
Views: 827

Re: My HH Bonds are nearing final maturity date. What happens then?

HH bonds are different from EE and I bonds. There is no accumulated interest. Interest is paid out, in cash, every year. Thus it is taxable every year. The only tax due the year of maturity is the last year's interest. . sport.....while it is true that there is no accumulated interest from the HH b...
by kaneohe
Sat Aug 01, 2015 12:08 am
Forum: Investing - Help with Personal Investments
Topic: Rollover/Pro-Rata issue....
Replies: 19
Views: 849

Re: Rollover/Pro-Rata issue....

Looking at your tax return, is there a Form 8606? There should be one for each of you. You are correct. Form 8606, section II, lines 16 and 17 each have "$5,500" listed. My wife and I each have one of these. The OP and his wife should have received a 1099-r for the conversion amount. Box ...
by kaneohe
Fri Jul 31, 2015 12:20 am
Forum: Investing - Theory, News & General
Topic: Folks using HSAs for retirement- how are you dealing with the "date opened?"
Replies: 3
Views: 479

Re: Folks using HSAs for retirement- how are you dealing with the "date opened?"

I would have thought it would pertain to the first HSA that you ever opened rather than the current one so keep evidence
of when you opened that first account.

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